SALES OF HOUSES BASED ON MODELS

A contract for the sale of a property based on a model is also called a pre-payment real estate sales contract. This type of contract for real estate involves the transfer and delivery of a property that does not yet exist, subject to payment in cash or installments.

Pre-paid housing sales contracts are regulated under Articles 40 and 46 of the new Law No. 6502 on Consumer Protection. According to the Law on Consumer Protection, a pre-paid housing sales contract is defined as: "A contract in which the consumer undertakes to pay the sale price of a real estate property intended for housing purposes in advance, either in cash or in installments, and the seller undertakes to transfer or deliver the property to the consumer after the price has been paid in full or in part.".

Formal requirements for contracts in off-plan housing sales

Because off-plan sales contracts address both long-term and abstract concepts for both sellers and buyers, clearly defining boundaries and rights in the contract is crucial for a successful outcome for all parties. Therefore, seeking assistance from a specialist real estate lawyer at this stage would be beneficial for both parties.

For a seller to be able to have a buyer sign a sales contract based on a model, they must first obtain the building permit and, at least one day before the contract is signed, provide the buyer with a pre-information form covering the points determined by the Ministry. Buyers should seek the assistance of an experienced real estate lawyer at this point, as this will protect them against potential delays in delivery or difficulties in finding a point of contact.

Late delivery in off-plan housing sales

Pre-paid housing contracts, also known as off-plan housing sales contracts, are currently widespread as promotional sales. These promotional channels include newspaper, radio, and television advertisements. The process for off-plan sales involves the delivery of the property advertised via model, and the determination of the contract type and its elements. At this stage, seeking legal support from an experienced real estate lawyer will be beneficial for both parties to clarify their boundaries and rights.

In pre-paid housing sales contracts, delays in delivery of the property can occur due to factors such as the lengthy process and the involvement of multiple parties, as is frequently encountered in practice. In such cases, seeking support from an experienced real estate lawyercan be advantageous for the parties, preventing further complications from arising in the event of disputes.

According to the Supreme Court ruling, in cases of delayed delivery of a dwelling, unless there is a provision to the contrary or no provision at all, the consumer is entitled to compensation for the delayed delivery due to it being a general condition of the transaction. Furthermore, other Supreme Court rulings of this nature have granted the buyer the right to claim compensation for lost rent up to the date of actual delivery of the dwelling. In this situation, it has been stated that the buyer can also exercise one of the optional rights stipulated in Article 125 of the Code of Obligations.

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